Price of imported rice drops in March – NBS

The National Bureau of Statistics (NBS) said average price of one kilogramme (kg) of rice (imported high quality sold loose) decreased month-on-month in March.

The NBS said this in its “Selected Food Price Watch (March 2019)’’ report released on its website.

The bureau said rice price decreased year-on-year by -0.39 per cent and decreased month-on-month by -0.68 per cent to N361.90 in March from N364.38 in February.

Similarly, the bureau said average price of one kg of yam tuber decreased year-on-year by -21.07 per cent and month-on month by -2.71 per cent to N200.88 in March from N206.48 in February.

Also, it said average price of one dozen of Agric eggs medium size decreased year-on-year by -12.80 per cent and month-on-month by -0.96 per cent to N459.80 in March from N464.26 in February.

In addition, it said average price of piece of Agric eggs medium size (price of one) increased year-on-year by 1.73 per cent and decrease month-on-month by -0.74 per cent to N41.91 in March from N42.23 in February.

According to the report, the average price of one kg of tomato decreased year-on-year by -10.03 per cent and month-on-month by -6.32 per cent to N240.29 in March from N256.50 in February.

The NBS said field work for the report was done by over 700 NBS staff in all states of the federation supported by supervisors who were monitored by internal and external observers.

Prices were collected across all the 774 local governments of the federation and the FCT from over 10,000 respondents and locations; they reflected actual prices households stated they actually bought those items.

The average of all these prices was then reported for each state and average for the country was the average for the state.